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THE LATEST HOME insurance comparison survey from the National Consumer Agency has shown there are differences in quotes of up to €362 being offered by providers.
The research examined quotes based on seven property types throughout the country. In the instances where all eight companies asked provided a quote, the average potential saving was €318.
The figure of €362 related to a two-bed terraced house in Waterford City: the most expensive quote was €546, whilst the cheapest was for €184.
The biggest percentage difference – at 341 per cent -was for contents cover only for a two-bed apartment in Co Dublin: the highest quote was for €389, and the cheapest quote was €88.
Additionally, six out of the eight companies surveyed indicated that they would be willing to negotiate with existing customers if that customer had secured a cheaper quote elsewhere.
“This research demonstrates that consumers can make significant savings on their home insurance if they are prepared to get a couple of quotes before taking out insurance,” Fergal O’Leary, Director of Research and Policy for the NCA said.
“It’s very positive to note that most of the companies surveyed are willing to renegotiate premiums.”
“It’s clear that consumers are in a much stronger position if they get quotes from competitors.”
The agency found that 14 per cent of consumers had switched their home insurance provider in the last year. Of those, 80 per cent saved money.
The providers included in the comparison were Aviva, RSA, AIG, Allianz, Axa, Liberty, FBD and Zurich.
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Was this article not published a few months back?
Slightly mis leading One point of note as much as its says they compared against each insurer , each insurer would have different cover (including accidental damage or not) , different policy excess etc.
Essentially you could be comparing an Apple & an Orange in some instances and noting a price difference whilst not taking into account substantial higher cover differences available on the higher premium policy.
Cheap premium policies are readily available but the following saying would apply “pay peanuts gets monkeys”.
‘Pay peanuts get monkeys’ does not necessarily always apply. We paid enormous salaries and pensions to the FF government and we got monkeys, albeit in disguise. If you give a monkey €250,000 pa the monkey will still be a monkey.
I’d agree shopping around pays off – saved €80 on my house insurance with Zurich Direct just last week – nice!
You would have to be very careful when looking at cheaper options . See if you are getting the same value on certain Items. Also I heard on radio this morning that with the value of houses gone down people are advised to check out the value of houses in their area. It may be cheaper to rebuild after something might happen to your house. To get value for money you should check all these things out.When an insurence is offering a lower insurance one has to examine all they are getting for their money to see if everything is covered by the same amount.
Could you add the direct link to the price comparison Daragh, not just to the home page !
I saved €135 on my motor insurance this week, I have the exact same cover and my excess is €150 less. Definitely shop around!
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